Corpwis Advisors Pvt. Ltd. ("Manager to the Open Offer") has submitted to BSE copies of Recommendations of the Committee of Independent Directors (IDC) under Regulation 26(7) of SEBI (Substantial ....
Awaiting price reaction for this filing.
Corpwis Advisors, the Manager to the Open Offer, has submitted to BSE the recommendations of the Committee of Independent Directors (IDC) of Deccan Bearings Limited regarding the Open Offer by the Satani family (Paresh, Tanuj, Chirag, and Ramjibhai Satani) to acquire up to 52,00,000 equity shares (26% of expanded capital) at Rs. 10 per share. The IDC met on October 6, 2025, and unanimously recommended the offer as fair and reasonable, noting the shares are infrequently traded, the company is under GSM Surveillance Stage 4, and the trailing four-quarter EPS is zero (current market price Rs. 108.45). The IDC's recommendation and Corrigendum to the Detailed Public Statement (DPS) were published on October 7, 2025 in Financial Express, Jansatta, and Mumbai Lakshadeep.
Public shareholders of Deccan Bearings holding 54,80,861 shares (27.40%) should independently evaluate the offer. Although the Rs. 10 offer price is well below the Rs. 108.45 market price, the IDC deemed it fair based on an IBBI-registered valuer's assessment, citing the company's zero EPS and GSM Stage 4 surveillance status as key context.